Iran President urges BRICS to expand local currency use to counter sanctions

Iranian President Masoud Pezeshkian, addressing a BRICS forum during his India visit, advocated for expanded use of local currencies among member nations to tackle international sanctions and deepen economic integration.

Pezeshkian highlighted growing geopolitical uncertainty, supply chain disruptions, and what he termed "increasing use of instruments to exert political pressure" on nations. He framed currency diversification as a mechanism to reduce reliance on traditional global payment systems and strengthen economic cooperation within the bloc.